Sacombank selected TEMENOS following an extensive evaluation process that commenced in late 2003 involving banking solution providers such as, i-Flex, Infosys, and Koreaâs IMS.
Mr. Dang Van Thanh, chairman of Sacombank says: "We chose TEMENOS T24 because it is a revolutionary banking platform that will give us real-time, end-of-day processing, built on an open architecture. We anticipate that TEMENOS T24 will provide a high degree of automation that will greatly enhance our operational efficiency and reinforce Sacombankâs reputation as the regionâs premier bank, from a partner that is a proven supplier in the banking market."
TEMENOS T24 will replace the bankâs existing legacy system called SmartBank, and provide support in several business areas including, Commercial and Retail Corporate, including General Ledger, Customer Information System, Deposit Products and Services, Credit Products and Services, Management Information System and Trade Finance.
Mark Cullinane, regional director, Asia Pacific, TEMENOS, says: "By deploying TEMENOS T24, Sacombank will have a state of the art banking solution that will support the demands of both their current and future business strategies. This is the first bank in Ho Chi Minh to implement T24, paving the way for Sacombank to become a leading bank in the region. T24 represents the new face of banking, delivering real-time, highly efficient and truly resilient non-stop services."
With this implementation Sacombank can also explore the opportunity to expand its income streams as well as enhance its banking performance, service efficiency and executive information as one of the most successful commercial joint stocks banks in the promotion of small- and medium-sized enterprises in Vietnam and the region.
Andreas, Andreades, CEO, TEMENOS comments: "The relatively untapped Asia Pacific core processing market represents a huge growth opportunity to us. The addition of Vietnamâs leading commercial bank to our increasing customer base is proof of our solid credentials and testament to the long-term investment and business strategy. As we continue to set the industry benchmark, todayâs announcement with Sacombank will help drive new customer momentum in Asia Pacific and support our ambitions for global market leadership in core banking services."
The announcement was made on the second day of the TEMENOS client forum in Prague, which reunited over 400 worldwide bankers, key investors and industry analysts as well as business partners such as IBM, Oracle, HP and Microsoft.